Totals
- Total revenue
- $4,054,624
- Total expenses
- $3,990,014
- Contributions and grants received
- $2,856,409
- Grants paid
- $2,306
- Program service revenue
- $517,365
- Investment income
- $19,060
- Other revenue
- $661,790
- Total assets, end of year
- $10,290,641
- Total liabilities, end of year
- $806,727
- Net assets or fund balances, end of year
- $9,483,914
- Program services expenses (Part IX)
- $2,941,721
- Management and general expenses
- $1,017,309
- Fundraising expenses
- $30,984
- Program service expenses (Part III)
- $2,941,721
Program services were 73.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1a · Federated campaigns
$0
-
1b · Membership dues
$0
-
1c · Fundraising events
$0
-
1d · Related organizations
$0
-
1e · Government grants (contributions)
$1,293,459
-
1f · All other contributions, gifts and grants
$1,562,950
-
1g · Noncash contributions included above
$0
-
2a · Program service revenue: Management Fee
total $24,000 · related or exempt $24,000 · unrelated business $0 · excluded $0
-
2b · Program service revenue: Other Revenue
total $493,365 · related or exempt $493,365 · unrelated business $0 · excluded $0
-
2c · Program service revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
2d · Program service revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
2e · Program service revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
2f · All other program service revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
3 · Investment income
total $19,060 · related or exempt $0 · unrelated business $0 · excluded $19,060
-
4 · Income from investment of tax-exempt bond proceeds
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
5 · Royalties
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
6a · Gross rents
real property $661,790 · personal property $0
-
6b · Less rental expenses
real property $0 · personal property $0
-
6c · Rental income or loss
real property $661,790 · personal property $0
-
6d · Net rental income or loss
total $661,790 · related or exempt $661,790 · unrelated business $0 · excluded $0
-
7a · Gross sales of assets other than inventory
securities $0 · other assets $0
-
7b · Less cost or other basis and sales expenses
securities $0 · other assets $0
-
7c · Gain or loss
securities $0 · other assets $0
-
7d · Net gain or loss
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
8a · Fundraising events: gross income
$0
-
8a · Fundraising events: contributions included on line 1c
$0
-
8b · Fundraising events: direct expenses
$0
-
8c · Net income from fundraising events
total $0 · unrelated business $0 · excluded $0
-
9a · Gaming: gross income
$0
-
9b · Gaming: direct expenses
$0
-
9c · Net income from gaming
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
10a · Gross sales of inventory
$0
-
10b · Cost of goods sold
$0
-
10c · Net income from sales of inventory
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
11a · Other revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
11b · Other revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
11c · Other revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
11d · All other revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
11e · Other revenue, total
$0
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $2,306 · program services $2,306
-
2 · Grants to domestic individuals
total $0 · program services $0
-
3 · Grants to foreign organizations and individuals
total $0 · program services $0
-
4 · Benefits paid to or for members
total $0 · program services $0
-
5 · Compensation of officers, directors and key employees
total $664,483 · program services $345,734 · management and general $312,172 · fundraising $6,577
-
6 · Compensation of disqualified persons
total $0 · program services $0 · management and general $0 · fundraising $0
-
7 · Other salaries and wages
total $1,492,717 · program services $1,093,583 · management and general $381,277 · fundraising $17,857
-
8 · Pension plan contributions
total $14,987 · program services $11,539 · management and general $3,220 · fundraising $228
-
9 · Other employee benefits
total $138,381 · program services $119,133 · management and general $16,881 · fundraising $2,367
-
10 · Payroll taxes
total $146,379 · program services $104,092 · management and general $40,707 · fundraising $1,580
-
11a · Fees: management
total $564,260 · program services $468,721 · management and general $93,164 · fundraising $2,375
-
11b · Fees: legal
total $39,793 · program services $15,000 · management and general $24,793 · fundraising $0
-
11c · Fees: accounting
total $40,717 · program services $0 · management and general $40,717 · fundraising $0
-
11d · Fees: lobbying
total $0 · program services $0 · management and general $0 · fundraising $0
-
11e · Fees: professional fundraising services
total $0 · fundraising $0
-
11f · Fees: investment management
total $0 · program services $0 · management and general $0 · fundraising $0
-
11g · Fees: other
total $45,070 · program services $39,648 · management and general $5,422 · fundraising $0
-
12 · Advertising and promotion
total $47,122 · program services $45,017 · management and general $2,105 · fundraising $0
-
13 · Office expenses
total $7,653 · program services $4,323 · management and general $3,330 · fundraising $0
-
14 · Information technology
total $146,701 · program services $110,017 · management and general $36,684 · fundraising $0
-
15 · Royalties
total $0 · program services $0 · management and general $0 · fundraising $0
-
16 · Occupancy
total $262,104 · program services $262,104 · management and general $0 · fundraising $0
-
17 · Travel
total $9,730 · program services $4,976 · management and general $4,754 · fundraising $0
-
18 · Travel or entertainment for public officials
total $0 · program services $0 · management and general $0 · fundraising $0
-
19 · Conferences, conventions and meetings
total $141,886 · program services $139,238 · management and general $2,648 · fundraising $0
-
20 · Interest
total $0 · program services $0 · management and general $0 · fundraising $0
-
21 · Payments to affiliates
total $0 · program services $0 · management and general $0 · fundraising $0
-
22 · Depreciation, depletion and amortization
total $123,980 · program services $108,680 · management and general $15,300 · fundraising $0
-
23 · Insurance
total $33,974 · program services $23,830 · management and general $10,144 · fundraising $0
-
24a · Other expenses: Miscellaneous Expense
total $40,554 · program services $18,045 · management and general $22,509 · fundraising $0
-
24b · Other expenses: Tax Expense
total $27,208 · program services $25,735 · management and general $1,473 · fundraising $0
-
24c · Other expenses: BAD DEBT
total $9 · program services $0 · management and general $9 · fundraising $0
-
24e · All other expenses
total $0 · program services $0 · management and general $0 · fundraising $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $2,987,897 · end of year $2,986,243
-
2 · Savings and temporary cash investments
beginning of year $0 · end of year $0
-
3 · Pledges and grants receivable
beginning of year $518,175 · end of year $744,291
-
4 · Accounts receivable
beginning of year $0 · end of year $0
-
5 · Loans and receivables from officers and key people
beginning of year $0 · end of year $0
-
6 · Loans and receivables from disqualified persons
beginning of year $0 · end of year $0
-
7 · Other notes and loans receivable
beginning of year $0 · end of year $0
-
8 · Inventories for sale or use
beginning of year $0 · end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $60,708 · end of year $52,142
-
10a · Land, buildings and equipment: cost or other basis
$3,738,835
-
10b · Land, buildings and equipment: accumulated depreciation
$310,923
-
10c · Land, buildings and equipment, net
beginning of year $3,477,486 · end of year $3,427,912
-
11 · Investments: publicly traded securities
beginning of year $0 · end of year $0
-
12 · Investments: other securities
beginning of year $1,523,002 · end of year $1,509,150
-
13 · Investments: program-related
beginning of year $0
-
14 · Intangible assets
beginning of year $31,428 · end of year $16,128
-
15 · Other assets
beginning of year $1,332,062 · end of year $1,554,775
-
17 · Accounts payable and accrued expenses
beginning of year $199,363 · end of year $784,963
-
18 · Grants payable
beginning of year $0 · end of year $0
-
19 · Deferred revenue
beginning of year $51,300 · end of year $21,764
-
20 · Tax-exempt bond liabilities
beginning of year $0 · end of year $0
-
21 · Escrow or custodial account liability
beginning of year $0 · end of year $0
-
22 · Loans and payables to officers and key people
beginning of year $0 · end of year $0
-
23 · Secured mortgages and notes payable
beginning of year $0 · end of year $0
-
24 · Unsecured notes and loans payable
beginning of year $0 · end of year $0
-
25 · Other liabilities
beginning of year $260,791 · end of year $0
-
27 · Net assets without donor restrictions
beginning of year $9,419,304 · end of year $9,483,914
-
28 · Net assets with donor restrictions
beginning of year $0 · end of year $0
Mission and programs · 2023
Mission
To empower Cincinnati entrepreneurs to launch bold, scalable startups; and we work to improve the odds of those startups growing into transformational companies.
Activities or mission (Part I)
To make the Cincinnati region the best place in the Midwest to launch a high growth startup. We empower Cincinnati entrepreneurs to launch bold, scalable startups; and we work to improve the odds of those startups growing into transformational companies.
-
Startup, Venture, Innovation Programs- Cintrifuse enables the activation, development and growth of startups by strategically leveraging and connecting a network of partners, all committed to expanding innovation and entrepreneurship across the region. the organization provides a regimen of educational and programmatic services to entrepreneurs and start up including speaker series, innovation exchanges and development. For venture capital funds that come to the greater Cincinnati area, the organization provides an introduction to the ecosystem, by providing connections to start-ups, and established companies, by providing workshops relating to valuation and other issues to get companies, who are seed stage to series a stage ready for the conversation with potential funders.
Expenses $2,128,551 · Grants $2,306 · Revenue $517,365
-
Union Hall: Cincy's Startup Hub - The coworking, office and event space where high-growth startups find creativity, community and connections.
Expenses $813,170 · Revenue $661,790
As filed on the 2023 return.
Listed in Part VII
-
Guy Persaud
Board Chair
- Total calculated
- $0
- Hours/week
- 2
-
James Zimmerman Esq
Secretary
- Total calculated
- $0
- Hours/week
- 2
-
Peter Blackshaw
CEO
- Total calculated
- $445,244
- From this org
- $417,381
- From related orgs
- $0
- Other
- $27,863
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $359,405
- Bonus
- $52,013
- Other
- $5,963
- Deferred
- $16,499
- Nontaxable benefits
- $11,364
- Filer's total
- $445,244
-
Aftab Pureval
Board Member
- Total calculated
- $0
- Hours/week
- 2
-
Anu Vora
Board Member
- Total calculated
- $0
- Hours/week
- 2
-
Brian Cobb
Board Member
- Total calculated
- $0
- Hours/week
- 2
-
Brian Hodgett
Board Member
- Total calculated
- $0
- Hours/week
- 2
-
David Cannady
Board Member
- Total calculated
- $0
- Hours/week
- 2
-
Eric Baumgardner
Board Member
- Total calculated
- $0
- Hours/week
- 2
-
Gary Lindgren
Board Member
- Total calculated
- $0
- Hours/week
- 2
-
Greg Crawford
Board Member
- Total calculated
- $0
- Hours/week
- 2
-
Heather Quinley
Board Member
- Total calculated
- $0
- Hours/week
- 2
-
J Scott Robertson
Board Member
- Total calculated
- $0
- Hours/week
- 2
-
Jeremy Vaughan
Board Member
- Total calculated
- $0
- Hours/week
- 2
-
Joshua Smith
Board Member
- Total calculated
- $0
- Hours/week
- 2
-
Lisa Mullaney
Board Member
- Total calculated
- $0
- Hours/week
- 2
-
Malcolm Myers
Board Member
- Total calculated
- $0
- Hours/week
- 2
-
Mark Fahner
Board Member
- Total calculated
- $0
- Hours/week
- 2
-
Melissa Stevens
Board Member
- Total calculated
- $0
- Hours/week
- 2
-
Mike Zelkind
Board Member
- Total calculated
- $0
- Hours/week
- 2
-
Patrick Longo
Board Member
- Total calculated
- $0
- Hours/week
- 2
-
Paul Jenny
Board Member
- Total calculated
- $0
- Hours/week
- 2
-
Robert Kalutkiewicz
Board Member
- Total calculated
- $0
- Hours/week
- 2
-
Rod Robinson
Board Member
- Total calculated
- $0
- Hours/week
- 2
-
Ryan Hays
Board Member
- Total calculated
- $0
- Hours/week
- 2
-
Ryan Kean
Board Member
- Total calculated
- $0
- Hours/week
- 2
-
Stephanie Hogue
Board Member
- Total calculated
- $0
- Hours/week
- 2
-
Stephanie Jenkins
Board Member
- Total calculated
- $0
- Hours/week
- 2
-
Tarek Kamil
Board Member
- Total calculated
- $0
- Hours/week
- 2
-
Thomas Williams
Board Member
- Total calculated
- $0
- Hours/week
- 2
-
Tim Schigel
Board Member
- Total calculated
- $0
- Hours/week
- 2
-
Warren Weber
Board Member
- Total calculated
- $0
- Hours/week
- 2
-
Lauren Boehmker
Controller
- Total calculated
- $219,237
- From this org
- $197,090
- From related orgs
- $0
- Other
- $22,147
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $159,789
- Bonus
- $34,839
- Other
- $2,462
- Deferred
- $10,094
- Nontaxable benefits
- $12,053
- Filer's total
- $219,237
-
Alisa Smith
Director Venture Services
- Total calculated
- $202,019
- From this org
- $199,690
- From related orgs
- $0
- Other
- $2,329
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $172,815
- Bonus
- $24,750
- Other
- $2,125
- Deferred
- $0
- Nontaxable benefits
- $2,329
- Filer's total
- $202,019
-
Donna Zarring
Director of Development
- Total calculated
- $212,895
- From this org
- $184,346
- From related orgs
- $0
- Other
- $28,549
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $156,451
- Bonus
- $25,302
- Other
- $2,593
- Deferred
- $5,706
- Nontaxable benefits
- $22,843
- Filer's total
- $212,895
-
Joseph Kropp
Managing Director Cintrifuse Capital
- Total calculated
- $212,924
- From this org
- $192,029
- From related orgs
- $0
- Other
- $20,895
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $190,379
- Bonus
- $0
- Other
- $1,650
- Deferred
- $5,755
- Nontaxable benefits
- $15,140
- Filer's total
- $212,924
-
Mark Wood
Director Startup Services
- Total calculated
- $188,532
- From this org
- $163,090
- From related orgs
- $0
- Other
- $25,442
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $147,416
- Bonus
- $13,002
- Other
- $2,672
- Deferred
- $8,614
- Nontaxable benefits
- $16,828
- Filer's total
- $188,532
-
Santiago Garcia
Principal Cintrifuse Capital Funds
- Total calculated
- $156,379
- From this org
- $150,554
- From related orgs
- $0
- Other
- $5,825
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $134,400
- Bonus
- $15,000
- Other
- $1,154
- Deferred
- $5,825
- Nontaxable benefits
- $0
- Filer's total
- $156,379
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 4c · Equity-based compensation arrangement
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- Schedule J, Part I, Line 4c Equity-based compensation arrangement
- Both Joseph Kropp and Pete Blackshaw participate in equity-based compensation arrangements, but neither received any payments pursuant to the agreement in 2023.
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Disregarded entities
Part I: entities that legally are the filer and file no return of their own.
-
Innovation Hub
Building Ownership · OH · income -$6,600 · assets $3,907,703
Directly controlled by Cintrifuse
Related partnerships
Part III: related organizations taxable as a partnership, with the filer's share.
-
Cintrifuse Syndicate Fund I LLC
N/A · VENTURE CAPITAL · OH
Directly controlled by NA
-
Cintrifuse Syndicate Fund II LLC
N/A · VENTURE CAPITAL · OH
Directly controlled by NA
-
Cintrifuse Fund Management LLC
N/A · VENTURE CAPITAL · OH
Directly controlled by NA
-
Cintrifuse Fund Management II LLC
N/A · VENTURE CAPITAL · OH
Directly controlled by NA
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
Cintrifuse Holdings LLC
C Corporation · INVESTMENTS, FUND MANAGEMENT I & II, CINTRIFUSE INNOVATION · OH · 100% owned · share of income $163,751 · share of assets $1,870,124 · controlled entity
Directly controlled by CINTRIFUSE
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 15 November 2024
- IRS schema version
- 2023v5.1
- Source object
- 202433209349322258
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